FxWirePro: USD/CAD hits new 11-year high on weak crude oil prices, good to buy at dips
USD/CAD has gained today till 1.3660 to new 11 year high as oil hits New Year low of $36.38/bl yesterday. WTI Crude Oil has broken previous low of $37.63 and declined till $36.38 (2015 low). The pair has broken major res…
USD/CAD has gained today till 1.3660 to new 11 year high as oil hits New Year low of $36.38/bl yesterday.
WTI Crude Oil has broken previous low of $37.63 and declined till $36.38 (2015 low). The pair has broken major resistance 1.36225 and jumped till 1.36593.
Overall trend is still bullish as long as support 1.3500 holds.
On the lower side minor support is around 1.3600 and any break below targets 1.3580/1.3530.
The pair's resistance is around 1.3660 and break above targets 1.3694/1.3840.
It is good to buy at dips around 1.3580 with SL around 1.3530 for the TP of 1.3690
